Primecoin investment analysis

Primecoin is actually one of the only projects of its kind because it actually gives a purpose to Proof of Work mining. In all Proof of Work cryptocurrencies the miner's computer must solve certain problems set forth for the purpose of validating blocks, the use case ends there. The "problems" are not needed for anything else. XPM is actually a scientific initiative which turns these hashes into powerful tools that search for prime numbers.

While adding a purpose to the massive hashing power that cryptocurrencies consume is admirable, those interested in making a Primecoin investment should be aware that this project is quite niche. Their social media accounts are dead for the most part, and there is no ongoing development for this currency. While there are some community members still hanging around, and there might even be some people mining it, it's unlikely it will see any future advancements.

Primecoin investment price
$0.032271

Primecoin expected Profit

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing possible profit rate in the coming months.

+150.2%

Primecoin Potential Price

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing the possible price in the coming months.

$0.080754

Primecoin Rating

The current coin position in cryptocurrency rankings by Safety Rank and Potential Profit.

How to buy Primecoin?

Investors can buy Primecoin on a good number of exchanges. They have a lot of listings, and even some popular options are present here. While they have quite a few pairings, only two of them have enough liquidity to be able to successfully support a trade, unfortunately. Traders will need to utilize either Bitcoin or the US Dollar Tether.

In order to safely store your assets, you'll need to download the official wallet from the coin's website. They have installation packages for Windows or Linux. There does not seem to be a download available for Mac, so if you're a Mac user you'll need to find a workaround or emulator that is capable of hosting one of the other wallets. In any case, cryptocurrency enthusiasts should make sure to always back up their wallet file in order to protect their investment. If your host device becomes inoperable, this will be the only way to restore access to your wallet.

Is it safe to invest in XPM now?

If we take a look at the Primecoin analysis we can see that right now this asset is experiencing an unusual spike in price. Considering this project is all but dead by ways of development and social media, this should be a serious red flag to investors.

There were rumors of a fork which helped to inflate the price, but this project has not seen an update for some time. In fact, their Github has been lacking in updates since 2014. Why anyone would choose to fork this project is confusing, and the person supposedly behind it has garnered a poor reputation already from the Zclassic fork.

Many are calling this a blatant pump and dump scam, and investors should be very careful about placing any money here. If you're truly interested in the fork, then it might be a better idea to purchase the new asset after the fact when everything calms down, because as it stands, this asset is trading at highly inflated levels.

Investors who might be tempted to invest in XPM for this supposed fork should know that there is no established date or even evidence that it will actually happen. If the fork does not happen, then the value of this asset will likely collapse, and investors could experience heavy losses. Even the sparse discussions in what's left of the XPM community seem sure that this will be a short-term event for the asset.

Unfortunately for Primecoin, either way, it will likely be another blockchain casualty, left to rot in the graveyard of dead cryptocurrencies. Either the fork happens and it's replaced by a new airdropped coin, or it does not and the asset falls back into obscurity. Investors should think long and hard about whether or not this is a risk that they are willing to take, because at this point it would require a substantial investment.

If you're not actually a miner, then the niche appeal of this currency will likely be lost on you, and there are better projects to throw money at for a much more attractive price that are still actively being developed. Investors should do their own research before making any risky investments and never gamble with money you may need in the short term.

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All cryptocurrency profit forecasts provided on the website are predicted based on the data obtained from the analysis algorithm and are published for informational purposes only. This information should not be used for any financial decisions. Always seek the help of a trusted financial advisor before committing to any investment and never invest money you cannot afford to lose.